First-Ring Industrial Redevelopment Enterprise (FIRE) is a regional Community Development Entity, formed in 2007, strategically focused to provide gap financing to mixed-use developments, commercial, and industrial development projects and expansions throughout the Southeast Wisconsin historic industrial corridor (Kenosha, Racine, Ozaukee and Milwaukee counties). FIRE was created utilizing the experienced development NMTC team. FIRE partnered with neighboring communities and economic development shareholders to form FIRE in seeking New Markets Tax Credits from the U.S. Treasury. With the main mission being stimulation of regional economic growth, FIRE’s vision is to inject capital into projects throughout four (4) counties that produce job creation and retention, to enhance tax base growth, and to yield new life in the urban cores of targeted dis-invested areas. Beyond the direct benefit, FIRE supports projects that advance “green” concepts and workforce development (i.e. job training), or employment initiatives such as minority business participation. FIRE has received over $353 million in NMTC allocation. To date, FIRE has obligated over $337 million in NMTCs, which has leveraged over $500 million of new development and economic output, and fostered the creation or retention of about 8,700 family-supporting jobs.
FIRE welcomes requests for NMTC’s throughout the year as we work to maintain an active pipeline of viable and potential projects throughout the region.